Chegg, Inc. (NYSE:CHGG) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have been assigned a consensus rating of “Reduce” from the ten ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.22.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Piper Sandler lowered Chegg from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. StockNews.com upgraded Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. The Goldman Sachs Group lowered their target price on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. Finally, BMO Capital Markets dropped their price target on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th.

Hedge Funds Weigh In On Chegg

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in Chegg by 185.5% during the third quarter. Acadian Asset Management LLC now owns 294,208 shares of the technology company’s stock valued at $2,621,000 after acquiring an additional 191,165 shares during the last quarter. Trexquant Investment LP purchased a new position in Chegg during the 3rd quarter worth $3,907,000. AQR Capital Management LLC increased its position in Chegg by 75.4% during the 3rd quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company’s stock valued at $6,188,000 after buying an additional 298,194 shares in the last quarter. Graham Capital Management L.P. raised its stake in Chegg by 28.2% in the third quarter. Graham Capital Management L.P. now owns 126,457 shares of the technology company’s stock valued at $1,128,000 after buying an additional 27,813 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Chegg by 114.4% in the third quarter. Hsbc Holdings PLC now owns 262,562 shares of the technology company’s stock worth $2,347,000 after acquiring an additional 140,113 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors.

Chegg Trading Down 4.0 %

Shares of CHGG opened at $7.15 on Friday. The company’s fifty day simple moving average is $8.17 and its 200-day simple moving average is $9.20. The company has a market cap of $736.09 million, a P/E ratio of -44.69, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. Chegg has a twelve month low of $6.98 and a twelve month high of $18.77.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, analysts expect that Chegg will post 0.26 EPS for the current year.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.